Copa Holdings, S.A. (CPA) reported traffic numbers for August 2024 on the back of upbeat air-travel demand. Driven by high passenger volumes, revenue passenger miles (a measure of traffic) improved on a year-over-year basis in August. To match the demand swell, CPA is increasing its capacity. In August, available seat miles (a measure of capacity) increased 8.2% year over year. Revenue passenger miles increased 5.8% year over year. Although traffic improved on a year-over-year basis, it failed to outpace ca ...

PANAMA CITY, September 11, 2024 /PRNewswire/ -- Copa Holdings, S.A. (NYSE: CPA) today released preliminary passenger traffic statistics for August 2024: | --- | --- | --- | |------------------------------|--------------|-------------------------| | Operating Data | August 2024 | August 2023 % Change | | Copa Holdings (Consolidated) | | | | ASM (mm) (1) | 2,603.4 | 2,407.1 8.2 % | | RPM (mm) (2) | 2,215.2 | 2,093.3 5.8 % | | Load Factor (3) | 85.1 % | 87.0 % -1.9 p.p. | 1. Available seat miles - represents t ...

A month has gone by since the last earnings report for Copa Holdings (CPA) . Shares have added about 2.3% in that time frame, underperforming the S&P 500. Will the recent positive trend continue leading up to its next earnings release, or is Copa Holdings due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers. Copa Holdings Beats on Q2 Earnings Copa Holding ...

The Zacks Airline industry has been benefiting from buoyant air travel demand, both on the domestic as well as international front. Upbeat passenger volumes have always been acting as a tailwind. Higher bookings contribute to the airlines' top-line performance. While air travel demand is particularly strong on the leisure front, business travel has also made an encouraging comeback. Partly due to these tailwinds, we believe the Zacks Airline industry has risen 13.5% so far this year, outperforming the 2.9% ...

Copa Holdings' (CPA) prospects are being hurt by high fuel and labor expenses. Weakness pertaining to passenger yield and cargo revenues represents another headwind. Let's delve deeper to unearth the factors responsible for making CPA stock an unattractive investment option. Southward Earnings Estimate Revision: The Zacks Consensus Estimate for current-quarter earnings has been revised 19.1% downward in the past 60 days. For the current year, the consensus mark for earnings has moved 10.4% south in the same ...

Copa Holdings, S.A. (CPA) reported solid traffic numbers for July 2024 on the back of upbeat air-travel demand. Driven by high passenger volumes, revenue passenger miles (a measure of traffic) rose in double digits in July on a year-over-year basis. To match the demand swell, CPA is increasing its capacity. In July, available seat miles (a measure of capacity) increased 11.3% year over year. Revenue passenger miles increased 9.5% from the year-ago quarter. Although traffic improved on a year-over-year basis ...

PANAMA CITY, Aug. 12, 2024 /PRNewswire/ -- Copa Holdings, S.A. (NYSE: CPA) today released preliminary passenger traffic statistics for July 2024: | --- | --- | --- | --- | |------------------------------|------------|-------------|-------------| | | | | | | Operating Data | July 2024 | July 2023 | % Change | | Copa Holdings (Consolidated) | | | | | ASM (mm) (1) | 2,684.7 | 2,412.411.3 | % | | RPM (mm) (2) | 2,350.8 | 2,147.29.5 | % | | Load Factor (3) | 87.6 | %89.0 | % -1.4 p.p. | 1. Available seat miles - ...

Financial Data and Key Metrics Changes - Copa Holdings reported a net profit of $120.3 million or $2.88 per share for Q2 2024, with an operating profit of $159.5 million and an operating margin of 19.5%, marking the second-best Q2 results in the company's history [9][4] - Passenger traffic grew by 10.6% year-over-year, while capacity increased by 9.7%, resulting in a load factor of 86.8%, a 0.7 percentage point increase compared to Q2 2023 [4][9] - Unit costs excluding fuel (CASM) decreased to $0.089, a 2.1% reduction year-over-year, while CASM excluding fuel came in at $0.56, a 5.8% decrease compared to Q2 2023 [10][5] Business Line Data and Key Metrics Changes - Passenger yield decreased by 8.7% to $0.121, primarily due to a revision of the unredeemed ticket revenue provision for tickets sold in 2024 [9][10] - Unit revenues (RASM) fell to $0.11, a 7.7% decrease compared to Q2 2023; excluding the adjustment related to unredeemed ticket revenues, RASM would have decreased by 3.8% [10][9] Market Data and Key Metrics Changes - The Venezuelan government temporarily suspended commercial flights between Venezuela and several countries, including Panama, leading to flight cancellations effective July 31 [7][8] - The company expects to return to full capacity by December 2024, with a ramp-up occurring between September and December [16][19] Company Strategy and Development Direction - Copa Holdings continues to focus on cost efficiency initiatives and expects to deliver lower year-over-year unit costs for 2024, aiming for industry-leading margins [7][8] - The company is expanding its network, now serving 85 destinations across 32 countries, reinforcing Panama's position as a leading hub for international travel in Latin America [6][8] - The management believes the business model remains robust, with Panama as the best connecting hub in Latin America [8] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the impact of weaker currencies, particularly in Brazil, affecting demand, but noted that overall demand remains stable despite industry capacity growth [18][24] - The company is prepared for potential challenges in the market, emphasizing a conservative approach to growth and capacity management [47][39] Other Important Information - The company announced a dividend payment of $1.61 per share on September 13, 2024, to shareholders of record as of August 30 [14] - The average cost of debt is currently around 3.6%, with approximately 70% of the debt being fixed [11] Q&A Session Summary Question: Impact of Venezuela flight suspension - Management confirmed that the impact of the Venezuela suspension is included in the guidance, with expectations to ramp up capacity by December [16][19] Question: Demand impact from currency devaluation - Management noted that while demand is stable, the weaker currency in Brazil is a concern, affecting overall revenue [18] Question: Unredeemed ticket revenue provision changes - The revision reflects a lower expected percentage of tickets expiring, impacting revenue guidance for the second half of the year [20][21] Question: Competitive landscape in Colombia - Management highlighted the intense competition in the Colombian market, with Wingo adjusting capacity in response to market conditions [39] Question: Share repurchase activity - The company was active in its share repurchase program, buying approximately $10 million worth of shares during the quarter [41] Question: Future growth opportunities - Management emphasized a conservative approach to growth, focusing on organic expansion rather than acquisitions [47]

Exhibit 99.1 Copa Holdings Reports Financial Results for the Second Quarter of 2024 Panama City, Panama --- August 7, 2024. Copa Holdings, S.A. (NYSE: CPA), today announced financial results for the second quarter of 2024 (2Q24). The terms "Copa Holdings" and the "Company" refer to the consolidated entity. The following financial information, unless otherwise indicated, is presented in accordance with International Financial Reporting Standards (IFRS). See the accompanying reconciliation of non-IFRS financi ...

Copa Holdings, S.A. (CPA) second-quarter 2024 earnings per share of $2.88 surpassed the Zacks Consensus Estimate of $2.77 but declined 26.5% year over year. Revenues of $819.4 million lagged the Zacks Consensus Estimate of $841 million but rose 1.3% year over year on the back of upbeat passenger revenues. Passenger revenues (which contributed 95.4% to the top line) increased 1% from second-quarter 2023, owing to a 10.6% year-over-year increase in passenger traffic, partly offset by an 8.7% decrease in passe ...